Philippines stocks head south

Philippines stocks head south

On Wednesday, Philippines stocks slumped after the close because losses in the Mining & Oil, Holding Firms as well as Banking & Financials sectors suppressed stocks.

The PSEi Composite went down 0.88%.

On the PSEi Composite the best performers were represented by such benchmarks as Metropolitan Bank and Trust Co, Robinsons Land Corp and Ayala Land Inc. They gained respectively 1.90%, 1.71% and 1.43%.

On the contrary the top notch losers included LT Group Inc, JG Summit Holdings Inc and Aboitiz Equity Ventures Inc. They lost respectively 4.26%, 3.11% and 2.90%.    

On the Philippines Stock Exchange descending equities stocks outnumbered rallying ones by 115 to 103, while 40 were intact.

The currency pair CNY/PHP slumped 0.08% hitting 7.9727, USD/PHP dived 0.24% being worth 50.928.

As for the US Dollar Index Futures, it lost 0.26% showing a reading of 89.65.

February delivery gold futures tacked on 0.70% reaching $1346.00 a troy ounce.

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